Author Topic: Pricing Game Probabilities and Strategies  (Read 468 times)

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Offline JhayPrice

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Pricing Game Probabilities and Strategies
« on: May 26, 2020, 04:04:08 AM »
I've been observing the gameplay and the stats of all the active pricing games on the show. Some of the games needs some strategy to win, and some games really rely on pricing knowledge. Clock Game is the only one I've analyzed yet.

Clock Game
- Usually, the first prize is valued at $600 (average). Everyone knows that the optimal strategy is to increase or decrease the bid by $100, before getting a $100 range (i.e. $600-$700). Next is to cut the price in half, in this case $650. Then, the contestant must increase or decrease the bid by $10, before he/she can zero in on the price by going from $##1 to $##9. Of course, additional pricing knowledge can lead the contestant to a good range to start with.

Probability of Winning: If you know how the play the game, you'll surely win it. 😊

Do you know some strategies to br used on other games? Share them here!
(BTW, analyzing the Big Wheel will take me a long time, so I just didn't try to do it. 😁)
And all these can be yours if The Price is Right!

Online gamesurf

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Re: Pricing Game Probabilities and Strategies
« Reply #1 on: May 26, 2020, 04:19:37 AM »
Last summer our very own LiteBulb88 went through every pricing game trying to do just that!

Thereís some very cool stuff in there: he tracks things like median Check-Out totals, which first digits are statistically more likely to be correct in Coming or Going, whether the less expensive or the more expensive item is likely to be right in Stack the Deck... he does some incredibly detailed and useful analysis, and he boils everything down into simple rules to follow!
Quote from: Bill Todman
"The sign of a good game, is when you don't have to explain it every day. The key is not simplicity, but apparent simplicity. Password looks like any idiot could have made it up, but we have 14 of our people working on that show. There is a great complexity behind the screen. It requires great work to keep it simple."

Offline JhayPrice

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Re: Pricing Game Probabilities and Strategies
« Reply #2 on: May 26, 2020, 04:29:29 AM »
Oh my! I've never checked that this has been done before! Thanks for the info by the way gamesurf. I'll leave this thread up to the mods since it's a duplicate of another previous thread...
And all these can be yours if The Price is Right!

Offline PriceFanArmadillo

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Re: Pricing Game Probabilities and Strategies
« Reply #3 on: May 28, 2020, 02:16:30 AM »
I know I don't visit the site much any more (and by 'any more', I mean since woolly mammoths circled the Earth), but holy crap, why isn't that the stickiest thread this forum has ever stickied?  That's super incredible to have all that stuff in one place, and I just stayed up until 2am binging it when I have to be up early for work.
Armadillo is exactly right - ClockGameJohn
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Offline SteveGavazzi

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Re: Pricing Game Probabilities and Strategies
« Reply #4 on: May 28, 2020, 01:07:20 PM »
but holy crap, why isn't that the stickiest thread this forum has ever stickied?

It is now!

(Legit question:  Can you sticky threads, Army?  I'm not sure what powers non-admin moderators do and don't have.)
"Every game is somebody's favorite." -- Wise words from Roger Dobkowitz.

Offline PayingTheRent

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Re: Pricing Game Probabilities and Strategies
« Reply #5 on: May 28, 2020, 01:23:27 PM »
(Legit question:  Can you sticky threads, Army?  I'm not sure what powers non-admin moderators do and don't have.)

Given that it may be another two or three years before we hear from Army again, the answer is yes. :P

Random quirk: I canít create topics in The Front Office, but I can create a topic in any other section and then move it to TFO.  Not that Iíve ever needed to post in that section, but mod powers can be weird like that.
Pardon my language, but I do believe we all need to calm the f*** down.

Offline Ton80

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Re: Pricing Game Probabilities and Strategies
« Reply #6 on: May 28, 2020, 04:06:14 PM »
Quote from: PayingTheRent
Given that it may be another two or three years before we hear from Army again, the answer is yes. :P

I'm glad I wasn't the only one who noticed Army pop up out of the blue - twice in one week, no less!

Seriously, Army!  I miss your avatars!!

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Ton80 is also a three-time Sarcasm Cup champion.

Offline PriceFanArmadillo

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Re: Pricing Game Probabilities and Strategies
« Reply #7 on: May 29, 2020, 11:32:04 AM »
Funny how I lost interest in spending all my free time here when I got a real job and was expected to actually be productive instead of watching Price every day, but I do still get emailed on all of the moderator reports.  Apparently I got bored the other day and actually decided to moderate.

EDIT: Oh, and to answer Steve, yes I do have a "Set Topic Sticky" button under this post.

« Last Edit: May 29, 2020, 11:36:42 AM by PriceFanArmadillo »
Armadillo is exactly right - ClockGameJohn
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